Dollar General 2015 Annual Report Download - page 32

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Proxy
In reaching the determination that Ms. Cochran is independent, the Board considered that
Ms. Cochran’s brother, Stephen Brophy, had served as a non-executive vice president of Dollar General
from 2009 until October 2015 and as a non-officer level employee since October 2015. For 2015,
Mr. Brophy earned from Dollar General total cash compensation (comprised of his base salary and
bonus compensation) of less than $325,000 and received an annual equity award consisting of 3,583
non-qualified stock options, a target award of 433 performance share units, or ‘‘PSUs’’ (452 PSUs were
ultimately earned as a result of our adjusted EBITDA and adjusted ROIC performance), and 433
RSUs. In March 2016, Mr. Brophy received an annual equity award consisting of 1,958 non-qualified
stock options, a target award of 224 PSUs, and 224 RSUs. All equity awards were granted on terms
consistent with the annual equity awards received by all Dollar General employees at the same job
grade level as Mr. Brophy and on terms substantially similar to the forms of award agreements on file
with the SEC. We expect Mr. Brophy’s total cash compensation for 2016 to not exceed $270,000.
Mr. Brophy also is eligible to participate in employee benefits plans and programs available to
our other full-time employees. Ms. Cochran does not participate in any decision-making related to
Mr. Brophy’s compensation or performance evaluations. Mr. Brophy’s cash compensation and equity
awards were approved by the Compensation Committee pursuant to our related-party transactions
approval policy.
20